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Industrial Refrigeration Market Size and Forecast, by Component (Compressors, Condensers, Evaporators, Controls); Capacity (Less than 100kW, 100-500Kw, 500-1000Kw, 1000-500Kw, More than 5000Kw); Refrigerant (Ammonia, Carbon Dioxide, Hydrofluorocarbon); Type (Stationary, Transport); Application (Refrigerated Warehouse, Food & Beverage, Chemical & Petrochemical, Pharmaceutical, Refrigerated Transportation) - Growth Trends, Key Players, Regional Analysis 2026-2035

  • Report ID: 4970
  • Published Date: Sep 11, 2025
  • Report Format: PDF, PPT

Industrial Refrigeration Market Outlook:

Industrial Refrigeration Market size was valued at USD 24.98 billion in 2025 and is expected to reach USD 41.08 billion by 2035, registering around 5.1% CAGR during the forecast period i.e., between 2026-2035. In the year 2026, the industry size of industrial refrigeration is evaluated at USD 26.13 billion.

Industrial Refrigeration Market Size
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The rising demand for processed and packaged food items is surging the use of industrial refrigeration to prevent food from spoiling. The revenue generated from the global sales of packaged food amounted to more than USD 2 trillion in 2019.

Industrial refrigeration is the process of cooling using large-scale cooling systems to remove the extra heat from the materials and lowers the temperature to achieve a desired temperature value. The surge in natural refrigerants owing to the rising need for environmental protection along with the recent shift towards energy-efficient facility designs are predicted to create positive opportunities for revenue generation.

Key Industrial Refrigeration Market Insights Summary:

  • Regional Highlights:

    • North America industrial refrigeration market will secure around 35% share by 2035, driven by government initiatives like SNAP and AIM Act encouraging natural refrigerants.
    • Asia Pacific market will capture a 24% share by 2035, driven by rising consumer spending and demand for food items requiring refrigeration.

  • Segment Insights:

    • The food & beverage segment in the industrial refrigeration market is projected to capture a 34% share by 2035, propelled by the increasing working population and demand for ready-to-eat food items.
    • The compressors segment in the industrial refrigeration market is forecasted to hold a 32% share by 2035, influenced by the rising focus on manufacturing innovative compressor solutions to meet system efficiency.

  • Key Growth Trends:

    • Increasing Food Wastage
    • Escalation in the Production of Perishable Goods

  • Major Challenges:

    • High Installation Cost
    • Lack of Skilled Professionals for Operating

  • Key Players: Johnson ControlsEmerson Electric Co.GEA Group AktiengesellschaftDanfoss A/SMayekawa Group of CompaniesDaikin Industries, Ltd.BITZER Kühlmaschinenbau GmbHEVAPCO Inc.Guntner GmbH & Co. KGLU-VE S.p.A.

Global Industrial Refrigeration Market Forecast and Regional Outlook:

  • Market Size & Growth Projections:

    • 2025 Market Size: USD 24.98 billion
    • 2026 Market Size: USD 26.13 billion
    • Projected Market Size: USD 41.08 billion by 2035
    • Growth Forecasts: 5.1% CAGR (2026-2035)

  • Key Regional Dynamics:

    • Largest Region: North America (35% Share by 2035)
    • Fastest Growing Region: Asia Pacific
    • Dominating Countries: United States, China, Germany, Japan, India
    • Emerging Countries: China, India, Japan, South Korea, Brazil

    • Last updated on : 11 September, 2025

Growth Drivers

  • Growing Number of Cold Chain Warehouses -  With the rising focus on increasing the shelf life of temperature-sensitive products, the demand for industrial refrigeration has also increased which drives market growth.
  • Increasing Food Wastage – Owing to the inefficiency in the handling of food, a huge amount of food products is wasted even before they reach the hands of the customers. This brings the need for highly-efficient industrial refrigeration for preventing food wastage. As per the data shared by the United Nations in 2022, almost 17% of food is wasted from global food production.
  • Escalation in the Production of Perishable Goods – Rapid urbanization has led to the development of perishable goods which requires high-quality industrial refrigeration for increasing their shelf life. 
  • Increased Penetration of Artificial Intelligence – Digital transformation has increased the penetration of artificial intelligence, the Internet of Things (IoT), and other automation processes have propelled the introduction of the latest industrial refrigeration for numerous processes. The number of Internet of Things devices in the world is projected to double from 10 billion in 2020 to 30 billion in 2030.

Challenges

  • High Installation Cost – The deployment of industrial refrigeration is expensive owing to the high cost of the components being used such as compressors, condensers, and evaporators. Furthermore, the technology and systems used in industrial refrigeration increase the cost.
  • Lack of Skilled Professionals for Operating
  • Rising Concern Regarding Safety

Industrial Refrigeration Market Size and Forecast:

Report Attribute Details

Base Year

2025

Forecast Period

2026-2035

CAGR

5.1%

Base Year Market Size (2025)

USD 24.98 billion

Forecast Year Market Size (2035)

USD 41.08 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Industrial Refrigeration Market Segmentation:

Component Segment Analysis

The industrial refrigeration market from compressors segment is poised to grow at a significant rate and hold the largest value of 32% in 2035. Compressors have an important role to play in increasing refrigerant vapor pressure in a condenser that ensures suitable temperature and pressure. The rising focus on manufacturing innovative compressor solutions to meet the efficiency of the industrial refrigeration system is expected to create a positive outlook for segment expansion.

Application Segment Analysis  

The food & beverage segment is estimated to grow the highest and hold the largest market share of 34% by the end of the forecast timeline. The increasing working population around the world has increased the demand for ready-to-eat food items and beverages which requires proper industrial refrigerant systems for protection.

Our in-depth analysis of the market includes the following segments:

         Component
  • Compressors
  • Condensers
  • Evaporators
  • Controls
  • Others

        Capacity
  • Less than 100Kw
  • 100-500Kw
  • 500-1000Kw
  • 1000-500Kw
  • More than 5000Kw

        Refrigerant Type
  • Ammonia
  • Carbon Dioxide
  • Hydrofluorocarbon
  • Others

        Type
  • Stationary
  • Transport

        Application
  • Refrigerated Warehouse
  • Food & Beverage
  • Chemical & Petrochemical
  • Pharmaceutical
  • Refrigerated Transportation
Vishnu Nair
Vishnu Nair
Head - Global Business Development

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Industrial Refrigeration Market Regional Analysis:

North America Market Insights

North America industry is expected to hold largest revenue share of 35% by 2035. The key factor responsible for the increment in market value is the rising government initiatives such as the Significant New Alternatives Policy (SNAP) and American Innovation and Manufacturing (AIM) Act encourage food manufacturers to use natural industrial refrigerant solutions to avoid food wastage.

Asia Pacific Market Insights

The Asia Pacific industrial refrigerant market value is set to grow at a significant share registering about 24% by the end of 2035. The growing spending capacity of consumers has led to increasing demand for food items and other commodities which have less shelf-life which has escalated the demand for industrial refrigerant for protecting the products. Also, the rising living standards of the people living in the region are estimated to favor market value expansion.

Industrial Refrigeration Market Share
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Industrial Refrigeration Market Players:

    • Johnson Controls
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Emerson Electric Co.
    • GEA Group Aktiengesellschaft
    • Danfoss A/S
    • Mayekawa Group of Companies
    • Daikin Industries, Ltd.
    • BITZER Kühlmaschinenbau GmbH
    • EVAPCO Inc.
    • Guntner GmbH & Co. KG
    • LU-VE S.p.A

Recent Developments

  • Johnson Controls has successfully acquired Hybrid Energy AS, a provider of high-temperature energy management solutions that focuses on heat pumps for district heating and industrial processes. The acquisition allows the company to bring new innovative solutions for consumers while addressing de-carbonization and sustainability.
  •  Emerson Electric Co. has decided to donate its unique and sustainable refrigeration architecture that was developed at its Helix Innovation Center in Dayton, Ohio, to the city’s Gem City Market. This will ensure the delivery of safe, high-quality food to the consumers.
  • Report ID: 4970
  • Published Date: Sep 11, 2025
  • Report Format: PDF, PPT
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Frequently Asked Questions (FAQ)

In the year 2026, the industry size of industrial refrigeration is evaluated at USD 26.13 billion.

The global industrial refrigeration market size exceeded USD 24.98 billion in 2025 and is set to register a CAGR of around 5.1%, exceeding USD 41.08 billion revenue by 2035.

North America industrial refrigeration market will secure around 35% share by 2035, driven by government initiatives like SNAP and AIM Act encouraging natural refrigerants.

Key players in the market include Johnson ControlsEmerson Electric Co.GEA Group AktiengesellschaftDanfoss A/SMayekawa Group of CompaniesDaikin Industries, Ltd.BITZER Kühlmaschinenbau GmbHEVAPCO Inc.Guntner GmbH & Co. KGLU-VE S.p.A.

Industrial Refrigeration Market Report Scope

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